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More CFOs undertaking green initiatives with rising fuel costs

CFOs can go green to save costs

With 61 percent of U.S. CFOs reporting high fuel costs are a "significant" burden to their business and 80 percent saying the prices have negatively affected their companies in some way, these financial bosses are increasingly seeking new green alternatives.

According to the recent Duke University/CFO Magazine Global Business Outlook Survey, a total of 53 percent of the responding CFOs said they are placing an increased emphasis on telecommunication and telecommuting, while another 51 percent reported making upgrades to the management of their facilities through green methods such as reduced lighting.

"We may be reaching a tipping point on the cost of traditional fuels," survey director John Graham, professor of finance at Duke's Fuqua School of Business explained. "We're seeing more companies embrace 'green' initiatives and position themselves to become less reliant on oil in the future."

Still, while companies are attempting to decrease their reliance on fuel, 44 percent of responding CFOs said that their companies have at least implemented plans to pass on some of the additional fuel costs to their customers by raising prices, according to the survey.

According to Reuters, one other way for CFOs to "go green" and save on high fuel costs is to purchase recycled ink and toner cartridges, which can save the company money and benefit the environment.